2023
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which country’s biggest bank UBS agreed to take over troubled Credit Suisse in an emergency rescue deal?
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Spain
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Sudan
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Switzerland
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Sri Lanka
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Explanation:
Detailed explanation-1: -UBS will buy rival Credit Suisse for more than $3 billion in a deal brokered by Swiss officials to try and prevent a banking crisis.
Detailed explanation-2: -On March 19, the government used emergency powers to stump up CHF109 billion ($122 billion) to underpin the buyout of ailing Credit Suisse by UBS. Parliament was bypassed on how to save the country’s second-biggest bank.
Detailed explanation-3: -GENEVA (AP)-UBS said Tuesday it’s bringing the CEO of Credit Suisse on to its executive board and will keep the two banks operating separately “for the foreseeable future” as it moves forward with a high-profile merger expected to close within two weeks.
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